The Capital Market Authority of Saudi Arabia has issued a strongly-worded directive warning institutions against conducting unlicensed securities businesses in the Kingdom, sparking concern of a crackdown on non-Saudi investment activity.
In a series of full page ads, printed across the Mena region, the regulator “called upon investors in securities to limit their dealings to CMA authorised persons only and not to deal with persons who are not authorised by the CMA to conduct securities business - whether they are individuals or institutions”.
The scale and tone of the announcement has fuelled speculation that Saudi Arabia is no closer to opening up more fully to foreign investors, despite years of rumours.
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